Billion

Mexico’s Groundbreaking Lawsuit Seeks $10 Billion and Industry Change from U.S. Gun-Makers

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Mexico City, Mexico – The government of Mexico has filed a $10 billion lawsuit against several major U.S. gun manufacturers, including Smith & Wesson, Colt, Glock, Beretta, and Ruger. The lawsuit alleges that these companies have played a role in the rampant cross-border gun trafficking that has fueled violent crime in Mexico. In a significant ruling, a federal appeals court in Boston recently decided that the gun industry’s immunity shield does not apply to Mexico’s lawsuit, allowing it to proceed. The lawsuit seeks not only damages but also a court order to force the gun-makers … Read more

Attorneys Seek Groundbreaking $6 Billion Fee after Voiding Elon Musk’s $56 Billion Pay Package

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Wilmington, Delaware – Attorneys who successfully argued that Tesla CEO Elon Musk’s $56 billion pay package was excessive are now seeking a nearly $6 billion award. The lawyers are requesting to be paid in the form of Tesla stock, which would set a new record for attorney fees if granted. In a filing made in Delaware’s Court of Chancery, the three law firms acknowledged that the requested fee is unprecedented in terms of its size. The proposed fee translates to an hourly rate of $288,888. Elon Musk responded to the attorneys’ demand, calling it “criminal” … Read more

Tesla Shareholder Lawyers Seek $6 Billion in Attorney Fees from Elon Musk’s Voided Compensation Package

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Wilmington, Delaware – Lawyers representing a Tesla shareholder have successfully contested Elon Musk’s $56 billion compensation package, arguing that the CEO does not deserve such a substantial reward for his work at the electric vehicle company. The lawyers are now requesting that a portion of the compensation package be allocated to them in attorney fees, which would amount to around 11% of the package, or approximately $6 billion worth of Tesla shares. In a filing submitted to a Delaware court, the attorneys asserted that their litigation work warranted a fee of about 11% of the … Read more

Lawyers Demand $6 Billion Worth of Tesla Shares as Fees for Unlawful Pay Package Case Victory

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WILMINGTON, Del. (AP) — Lawyers in Delaware are seeking nearly $6 billion worth of Tesla stock as their fee for successfully arguing that CEO Elon Musk’s 2018 pay package was unlawful, according to court documents. The requested fee would surpass previous records for attorney compensation if approved by a judge. In 2008, lawyers working on Enron-related class actions were awarded $688 million in fees. The lawyers, who represented former heavy metal drummer Richard Tornetta and other Tesla investors, convinced the Delaware chancery court to invalidate Musk’s $56 billion pay package from 2018. The court ruled … Read more